New Delhi: India and the US, at a high-level official meeting held here amid the thaw in the relations between the two countries, decided to intensify efforts to achieve an early conclusion of a mutually beneficial trade agreement.
A team of officials from the office of the United States Trade Representative, led by Chief Negotiator, India-US Bilateral Trade Agreement negotiations, Brendan Lynch, arrived in India this week. They held discussions on India-US trade ties, including the India-US Bilateral Trade Agreement, with a team of Indian officials, led by Special Secretary, Commerce, Rajesh Agrawal.
"Acknowledging the enduring importance of bilateral trade between India and the US, the discussions were positive and forward looking covering various aspects of the trade deal. It was decided to intensify efforts to achieve early conclusion of a mutually beneficial Trade Agreement," a statement issued by the Commerce and Industry Ministry after the meeting.
According to Commerce Ministry sources, trade discussions are going on at several levels, and further course of action will be decided after the trade talks with the US Chief Negotiator, Lynch.
There is a positive frame of mind on both sides while approaching trade issues. The teams are set to discuss all the pending issues related to the trade deal. Certain issues are in the diplomatic realm where the MEA is also engaged.
Lynch's visit comes as expectations of a trade deal have been boosted by positive messages from US President Donald Trump and Prime Minister Narendra Modi after days of bitter stalemate.
Trump said on a Truth Social post on September 9 that talks were continuing and "I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries".
Calling PM Modi a "great friend", he said he would be talking to him.
PM Modi responded to Trump’s post, saying: "I am confident that our trade negotiations will pave the way for unlocking the limitless potential of the India-US partnership.” He added that he was looking forward to talking with Trump.
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Piyush Goyal says trade talks are on with many countries Mumbai: Commerce and Industry Minister Piyush Goyal has said India’s exports have recorded a 6 per cent growth in the first five months of the current financial year and exuded confidence that the year would end "on a positive note". "As far as exports are concerned, I have consistently said that India's exports are growing every year, and this year too, I expect exports to grow. Currently, we are seeing a growth of about six per cent compared to the corresponding five months of last year. I am very confident that we will end the year on a positive note," the minister said. "At the same time, trade talks are ongoing with the United States, the European Union, New Zealand, Chile, Peru, Oman, and several other countries," he added. Goyal also said: "The India-UAE FTA is the world's fastest-growing FTA that we have ever seen. We launched it, negotiated it, finalised it, and signed it in just 88 days. Since then, our exports to the UAE have been growing very rapidly. This is a very special relationship. There are lakhs, perhaps over 25 lakh Indians living in the UAE, earning an honest livelihood and contributing positively there." The Commerce and Industry Minister was set to visit the United Arab Emirates (UAE) to co-chair the 13th India-UAE High Level Task Force on Investments along with Abu Dhabi Investment Authority (ADIA) Managing Director, Sheikh Hamed bin Zayed Al Nahyan. |
